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Last year, the Portuguese government made the decision to revise the Golden Visa programme, which will greatly affect those looking to invest in property in key areas. But, with Brexit also taking effect, is there an alternative?
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Everything changed in 2020, but generally speaking, the real estate market remained much as it did before: houses were bought, sold, and rented. The Portuguese property market remained resilient. The question is, given the challenges of 2020, what opportunities will the new year bring?
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With the revised Golden Visa programme to come into effect next July, property developers and investors believe that it will cause “reputational damage to Portugal”.
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Portugal, and especially the Algarve, gathers all the conditions to be one of the strongest destinations in Europe for senior living. But it’s a relatively unexplored market, according to a study released recently by Savills.
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Despite the crisis, the latest data shows that property prices in Portugal remain stable. But there are also signs that the market is cooling year on year, and the number of house sales are expected to fall.
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